| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
BIMI International Medical Inc. (the "Company"), a leading medical solutions provider, today announced its financial results for the three months ended June 30, 2023. The Company reported a significant increase in gross margin underlining the ongoing success of its business strategy and operational effectiveness.
Revenues for the six months ended June 30, 2023 and 2022 were $8,755,303 and $5,543,745, respectively. Compared with the same period in 2022, revenue increased by $3,211,558, due to the inclusion of the revenues of Phenix Bio Inc., which was acquired on March 15, 2023. The revenues of the Zhongshan, Qiangsheng, Eurasia, and Minkang hospitals, that were held for sale, were accounted for separately.
For the six months ended June 30, 2023, and 2022, The company achieved gross margins 52% and 15%, respectively, reflecting the high margins for the herbal supplements sold by Phenix Bio Inc..
The Company also reported changes in its cash position and working capital. On June 30, 2023, BIMI had cash of $1,931,744 and positive working capital of $6,604,643 as compared to cash of $2,336,636 and negative working capital of $326,672 on December 31, 2022.
"We are delighted with the initial success achieved by Phenix Bio Inc.", said Mr. Tiewei Song, the CEO of BIMI International Medical Inc.
Posted In: BIMI
